Sales in assets led Nepal Bank tremendous profit growth by 162.41% to Rs 1.16 arba in Q1; EPS at Rs 71.76

Nepal Bank Limited (NBL) has registered outstanding net profit rise by 162.41 percent in the first quarter of the fiscal year 2073/74. As per the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 1.16 arba in first quarter of the FY 2073/74 up from Rs 44.43 crore in the corresponding quarter of the last fiscal year 2072/73. The bank has collected huge amount of non-operating income by selling fixed assets and cross holding share. Its operating profit has also improved which shows overall increment in their core business activities. NBL operating profit increased to Rs 47.93 crore in Q1 up from Rs 13.64 crore in the corresponding quarter in the previous fiscal year. Likewise, its net interest income has risen to Rs 1.17 arba in Q1 from Rs 69.91 crore in the corresponding quarter of the previous fiscal year. Nepal Bank Capital Adequacy Ratio (CAR) remains at 12.12 percent this quarter compared to 7.85 percent in previous quarter. It has paid up capital of Rs 6.49 arba .Its reserve increased to Rs 1.53 arba in first quarter from the loss of Rs 2.14 arba. The bank has amassed deposits collection of Rs 86.22 arba in the first quarter of FY 73/74 from Rs 77.54 arba in the corresponding period of the last fiscal year. Likewise, it has extended loans and advances of Rs 66.03 arba from Rs 53.09 arba. NBL’s Non-Performing Loan (NPL) has slightly declined to 3.10 percent in Q1 from 3.82 percent in the previous year report. Its annualized Earning per Share (EPS) remains at Rs 71.76, net worth per share at Rs 123.61 and P/E ratio at 7.29 times.